US Market session wrapping to set new highs; traders got over concerns about economic recovery

Market recovered losses as stocks rocketed higher this Friday after investors shake off existing growth concerns. All the declines from yesterday were swept away with all benchmark equities setting new all-time highs.
 
CENTRAL, Hong Kong - July 26, 2021 - PRLog -- The previous concerns all came from the possibility of the COVID-19 Delta variant resurging as Japan requested for a state of emergency, along with China's move to cut their central bank's monetary policy.

This news suggested the lack of confidence in their country's recovery. The investors were greatly shaken by this causing the downward spike on Thursday's session, but after the equity investors in the US analyzed the Delta variant, it was not marked as a big risk, shaking off the previous concerns.

S&P 500 jumped by more than 1% which was brought by energy, materials and financials sectors. Both the Dow and NASDAQ also managed to set new records, while the 10-year Treasury yield benchmark also reversed the movements on Thursday to end up higher.

An overview of what happen in the market last July 9, 2021 is listed below;

Stocks and Treasuries;
  • NASDAQ Composite Index gained by 0.98% or 142.13 points and wrapped at 14,701.92.
  • The S&P 500 Index went up by 1.13% or 48.73 points closing at 4,369.55.
  • The Dow Jones Industrial Average moved higher with 1.30% or 448.23 points gain, to end at 34,870.16.
  • U.S. 5 Year Treasury yield moved up by 0.0382 basis points ending at 0.7850.
  • U.S. 10 Year Treasury yield increased by 0.0690 basis points closing 1.3630.
  • U.S. 30 Year Treasury yield gained 0.0571 basis point at 1.9883.
Commodities and Global Currencies:
  • Gold moved up by $5.97 or 0.33% and is now at $1,808.465 per ounce.
  • Western Texas Intermediate Crude is currently at $74.56 a barrel gaining 2.22%.
  • Brent Crude closed at $75.55 per barrel after increasing by 1.93%.
  • Euro = +0.00302 (0.25%) = 1.18746
  • Yen = +0.275 (0.25%) = 110.029
  • CAD = -0.00891 (0.71%) = 1.24400
Crypto Currency market is still under bear season as of this writing but most technical analyst says that a possible bull run is set by end of this year.

Short list of the top 5 main currencies in the Crypto market is listed below;
  • Bitcoin (BTC) - $32,872.07
  • Etherium (ETH) - $2,116.32
  • Ripple (XPR) - $0.6214
  • Bitcoin Cash (BCH) - $490.31
  • LiteCoin (LTC) - $132.11
Want to know more about US Stock Market and Crypto Currency kindly visit us at Acorns Capital Management Limited through our website https://acornscapitalmanagement.com/ or you may also contact us via email.

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